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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: MythMan who wrote (85211)2/1/2001 11:36:16 AM
From: Ilaine  Read Replies (2) of 86076
 
You were still living with your mama in 1973 - I was self-supporting, and remember it quite well. I've been through several of these things - they come, they go. You scale down your expectations, learn to like beans again, drink cheap beer instead of the fancy stuff and life goes on.

What's different between now and 1973? In 1973, both husband and wife didn't need to work to make ends meet. Real wages have declined since then - have not kept pace with inflation. Most families didn't have two new cars, maybe one with a note and one that was paid off. They didn't have these huge houses with the killer mortgages. They weren't maxed out on their credit cards.

Having been through recessions before, I am a fairly conservative spender. Both of our cars are paid for, we don't have any credit card debt, we have money in the bank, and our house note is relatively low.

People who are strapped with debt are going to go under, unless they've got jobs that are recession-proof.
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